Wednesday December 19, 2018
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Tesla Founder Elon Musk Sued For Fraud

The company has been struggling to achieve the ambitious production targets that Musk had publicly outlined.

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Elon Musk, CEO of SpaceX. Wikimedia.
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The Securities and Exchange Commission (S.E.C.) has filed a lawsuit accusing Tesla Inc. founder Elon Musk of committing fraud by making false public statements with the potential to hurt investors, a move that could force him out of the companys leadership.

The lawsuit filed on Thursday in a federal court here seeks to bar Musk from serving as an executive or director of publicly traded companies like Tesla, reports The New York Times.

Such a punishment is one of the most serious remedies the S.E.C. can impose against a corporate executive.

At issue is Musk’s declaration on Twitter last month that he had “funding secured” to buy out the stock of the electric-car maker.

The prospect created a firestorm on social media and in the markets that sent Tesla’s shares soaring.

tesla
Tesla has become the most valuable American carmaker, with its stock worth more than $50 billion. Pixabay

 

The case could lead to a re-evaluation of how companies use Twitter to communicate with the investing public.

The S.E.C. said Musk “knew or was reckless in not knowing” that his statements were false or misleading.

“In truth and in fact, Musk had not even discussed, much less confirmed, key deal terms, including price, with any potential funding source,” it said in its lawsuit.

Musk responded later on Thursday, calling the move “unjustified”.

“This unjustified action by the S.E.C. leaves me deeply saddened and disappointed. I have always taken action in the best interests of truth, transparency and investors. Integrity is the most important value in my life and the facts will show I never compromised this in any way,” the billionaire businessman said in a statement.

Tesla CEO
According to Musk, “two thirds” of Tesla’s current stockholders would be interested in continuing to hold the firm’s shares once it goes private. (VOA)

The S.E.C. approached the Tesla chief with an offer to settle the case, an informed source told The New York Times, but he refused to negotiate, adamant that he had done nothing wrong.

Tesla has become the most valuable American carmaker, with its stock worth more than $50 billion.

But the company’s shares tumbled more than 12 per cent in after-hours trading after the S.E.C. filed its lawsuit.

The lawsuit is the latest in a series of escalating problems for Tesla and Musk.

Also Read: Elon Musk Maybe Sued For ‘Paedo’ Remark

The company has been struggling to achieve the ambitious production targets that Musk had publicly outlined.

He has made a series of unusual public comments or appearances, including an internet interview in which Musk appeared to smoke marijuana. (IANS)

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The Best Litecoin Wallet this Year

As you can see an array of best Litecoin wallets in 2019 available for storing Litecoin which is a cryptocurrency that facilitates an instant transfer of funds

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Litecoins, cryptocurrencies
Cryptocurrency, Litecoin. Flickr

Cryptocurrencies are gaining robust popularity amongst the masses due to its decentralised approach. Since cryptocurrencies eliminate the intervention of institutions and Governments in its transactions, it is more transparent in its operations. People might be well aware of the popular crypto Bitcoin, but there are many other better performing coins like Litecoin, Bitcoin Cash, Ethereum and Ripple. If you intend to buy litecoin, then you should have a crypto wallet which can store the litecoins for you. A crypto wallet acts like a regular wallet to keep the money safe, but it does not actually hold any physical form of cryptos. 

Find below some of the Litecoin wallets to secure your LTC:

Ledger Nano S: It is a hardware wallet which can be easily plugged into your system like a USB device. Ledger nano s is considered safer than online wallets as they can be physically carried and plugged off the device thereby providing less space for any fraudulent activities. Ledger nano is equipped with private keys for better security and is the best choice if you have LTC in large numbers.

Litecoins, cryptocurrencies
As technology advances, you can see many more wallets pitching in with its own innovative ideas to store and safeguard cryptocurrencies. Flickr

Trezor wallets: Trezor was a child from the Satoshilabs and is the first hardware wallet meant for providing more security to the coins. Trezor renders its support to many coins like Dash, ZCash, Litecoin and Dogecoin. It provides a 9-digit pin code to store your Litecoins even offline. Trezor is one of the lightest and portable Litecoin wallets.

Also read: Microsoft Adds Digital Health; Feature On its Beta Android Launcher

Exodus: Exodus is a popular desktop wallet which provides space for storing many cryptocurrencies including Bitcoin, Litecoin, ZCash and Ripple. Exodus has an inbuilt connection with famous cryptocurrency exchange Shapeshift allowing easing access to LTC to BTC converter and BTC to LTC exchange.  Exodus is a multi-currency wallet and hence is a favourite for many crypto enthusiasts.

Jaxx: Jaxx wallet supports desktop and mobile applications. Jaxx provides a user-friendly experience for all the 13 cryptocurrencies it supports. One amongst them is Litecoin. Jaxx wallet can be used in IOS, Android, Windows and Linux devices. It has a tie-up with Shapeshift which is a leading crypto exchange thus allowing you to buy Bitcoin anonymously with credit card. 

Cryptocurrencies
A crypto wallet acts like a regular wallet to keep the money safe, but it does not actually hold any physical form of cryptos. Flickr

Electrum LTC: To get away with the slow speed of heavy Litecoin core wallets, you can shift to a lite wallet like Electrum LTC to store Litecoins. Electrum is a desktop wallet which works without downloading the entire Litecoin blockchain.  Electrum LYTC wallet is protected by a 12 digit seed key and is available for different types of desktops like MAC, Windows and Linux.

Conclusion

As you can see an array of best Litecoin wallets in 2019 available for storing Litecoin which is a cryptocurrency that facilitates an instant transfer of funds from one end to the other through a peer-to-peer network. Look at the pros and cons of different crypto wallets before choosing the one which suits your needs. As technology advances, you can see many more wallets pitching in with its own innovative ideas to store and safeguard cryptocurrencies.